Analyst: Bitcoin options traders eyeing call options above $80,000
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Odaily Planet Daily Report: An analyst said that Bit currency option traders are increasingly focused on call options with strike prices above $80,000 that expire in November. The market expects two important events to occur next month: the US presidential election on November 5 local time and the Federal Open Market Committee (FOMC) interest rate decision on November 8. Bitwise Europe Research Head André Dragosch said: "The Bit currency option contracts with the largest open interest are those expiring on November 8, the day of the FOMC meeting and a few days after the US election, clearly biased towards call options. This supports the hypothesis that Bit currency option traders are generally preparing for a bullish outcome." The market generally expects the Federal Reserve to announce a 25 basis point cut in the federal funds rate at its November 8 meeting, with a 90.2% chance of a rate cut. A rate cut may increase risk appetite in the broader market, and traders appear to be positioning accordingly in the cryptocurrency market. (The Block)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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